proptech Archives - SHOPPE BLACK

Published on January 29, 2023January 29, 2023

3 mins read

Proptech 101: Understanding the Growth and Impact of Real Estate Technology

Proptech (property technology) is the use of technology to improve the efficiency and profitability of real estate transactions and operations.

From online platforms for buying and selling properties, to virtual reality tools for property tours, to data analytics for real estate market analysis, proptech companies are leveraging the latest technology to create new and innovative solutions for the industry.

The proptech industry is experiencing significant growth, as more and more companies enter the market and investors begin to recognize the potential for strong returns. The market size is estimated to reach $86.5 billion by 2032, up from $18.2 billion in 2022. A report stated that there were 2,045 PropTech companies– operating in 66 countries – at the end of the fiscal year in 2021.

This growth is driven by a number of factors, including the increasing adoption of technology in the real estate industry and the growing demand for more efficient and sustainable real estate solutions.

Proptech can be used in a variety of ways to advance the real estate industry, including in the construction and sustainability sectors. In the construction industry, proptech companies are using technology such as Building Information Modeling (BIM) and 3D printing to improve the design, construction, and maintenance of buildings. This can lead to more efficient construction processes, reduced costs, and better-performing buildings.

In the sustainability sector, proptech companies are using technology such as energy management systems, smart building controls, and sensor networks to improve the energy efficiency and environmental performance of buildings. This can lead to significant cost savings for building owners and tenants, as well as a reduction in the environmental impact of the built environment.

One specific example of proptech in action is the multifamily industry, where technology is being used to improve the leasing process, streamline property management, and enhance the overall living experience for residents.

For example, many multifamily buildings now use digital platforms for leasing and rental payments, making the process more convenient for both tenants and landlords.

Additionally, proptech companies are developing virtual reality tools for property tours, allowing prospective tenants to explore a property from the comfort of their own homes.

Another example is the industrial industry, where proptech companies are using technology to optimize the performance of warehouses and distribution centers. For example, companies are using sensor networks and data analytics to improve inventory management, reduce costs, and increase efficiency.

Lastly, proptech is also being used in the office sector, where technology is being used to improve the experience of working in an office building. For example, companies are using sensor networks and data analytics to optimize the performance of HVAC systems, improve indoor air quality, and enhance the overall comfort of the building.

Overall, this dynamic industry offers a lot of potential for growth and innovation, and it will be interesting to see how it develops in the near future.

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Published on November 17, 2022December 28, 2022

2 mins read

Black Owned Proptech Startup, REZI Secures $100M to Expand Nationwide

REZI, a real estate technology company offering “Occupancy-as-a-Service” for rental property owners, has secured $100M in debt financing from Stratos Credit, announced on Tuesday by Sean Mitchell, CEO & Co-founder at REZI.

rezi

This funding comes at a time of rapid growth at the NYC-based company. It has expanded into several new markets across the country, including Los Angeles, San Francisco, and most recently, Austin, after securing a deal with Rastegar Property Company to lease-up over 200 vacancies across nine of the firm’s developments.

REZI will leverage this new $100M in capital to expand its offerings to more property owners in existing and new markets. The company uses innovative technology including machine learning algorithms to accurately predict rent prices, vacancy timelines, and credit losses.

It then uses those insights to guarantee leasing performance for property owners who work with them.

“Stratos has been a core strategic partner of REZI since 2017. This facility marks the next phase in our relationship and the beginning of a new and exciting time at REZI as we expand our service across the country and launch more products for property owners, investors, and renters alike” said Sean Mitchell.

Leveling the renting field for everyone

REZI leverages the latest tools in technology, analytics, and finance to get rid of the old inefficiencies to focus on empowering both tenants and property owners.

For landlords, they remove risks from the equation by guaranteeing their income and taking over every aspect of the renting process. For tenants, they offer a fast, easy, and free experience to find their next home, removing removed broker fees and replacing unnecessary bias with financial eligibility and secure background checks.

-Tony O. Lawson